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814 orders · Page 12 of 17
The Tribunal held that the income disclosed by the assessee through VDIS and the belatedly filed return, even if considered irregular, constituted a disclosure to the department prior to the search. Therefore, it could not be treated as undisclosed income.
The High Court dismissed the appeal, stating that the issues were covered by a previous decision in Commissioner of Income Tax Vs Tata Elxi Limited. However, it allowed for consequential orders if the Supreme Court reverses the High Court's judgment.
The tribunal held that the widower's employment did not disqualify him from claiming dependency, and the daughter was a dependent at the time of the accident. The compensation for conventional heads was reduced, and the gross salary was adjusted for deductions and future prospects.
The High Court agreed with the ITAT, holding that the fee charged by the bank for credit card usage is a service fee and not commission or brokerage under Section 194H. Therefore, no TDS was required.
The Tribunal erred in holding that the additions made by the Assessing Officer were not corroborated by other evidence. The High Court found that the assessees and their Chartered Accountant failed to substantiate their claims regarding the seized documents.
The High Court held that income earned by the assessee through 'on-site' software development by an AE on behalf of the assessee is eligible for deduction under Section 10A. The court found a nexus between the offshore and onsite development, with the AE working under the assessee's supervision and control.
The Tribunal erred in deleting the addition by relying on broad principles and assumptions without considering critical facts and evidence. The burden of proof lies with the assessee to substantiate their claims, which they failed to do.
The High Court held that the petitioner company was not in existence on the date the winding-up petition was filed. Therefore, the petition was not maintainable as it was based on a subsequent revival of the petitioner's incorporation certificate.
The High Court held that investments made through a portfolio management company, even for maximum profits, do not constitute business income for a professional. Such profits remain taxable as capital gains, not business income.
The High Court held that the reopening of assessment under Section 147 is valid even if the addition is not on the specific issue for which reasons were recorded, provided the notice for reopening is valid. The matter was remanded to the Tribunal for fresh consideration on merits.
The Tribunal held that the reassessment proceedings were initiated merely on a change of opinion and not due to the assessee's failure to disclose material facts. The High Court found no substantial question of law arising from the Tribunal's order.
The Tribunal held that the payment was a voluntary payment and not an expenditure incurred wholly and exclusively in connection with the transfer of shares. The High Court agreed with the Tribunal's findings.
The High Court reviewed and recalled its previous judgment. The original appeals were restored to the file of the High Court for fresh consideration.
The High Court allowed the appellant to withdraw the appeal as per their request. The withdrawal was granted with liberty to revive the appeal if the dispute is not settled under the Vivad Se Vishwas scheme.
The High Court held that the ITAT's order was not supported by cogent reasons and failed to re-examine the factual matrices considered by the Commissioner. The matter was remanded for fresh consideration.
The High Court held that the payment was not a business expenditure as it arose from a dispute related to a dissolved firm and not the assessee's current business. The ITAT's conclusion that the payment was for commercial expediency and under court directions was found to be factually incorrect.
The Tribunal held that the assessee failed to prove the land was used for agricultural purposes for the two years preceding the transfer. The High Court agreed with the findings of fact by the lower authorities and dismissed the appeal.
The High Court noted that the petitioner had already filed the relevant income tax assessment documents before the lower court. Since the documents were available and the respondent's counsel confirmed their dispatch by the department, summoning a witness was deemed unnecessary.
The Tribunal held that the law of limitation applies to applications seeking to declare a transaction void under Section 531-A of the Companies Act. Even with time exclusions, the application was found to be barred by limitation.
The High Court held that the deduction of tax at source was justified, referencing a similar case and Section 194A(3)(ix) of the Income Tax Act. Consequently, the Tribunal's order was set aside.
The High Court held that the valuation agreed upon by the parties in the Tripartite Agreement, based on Rs. 800 per sq. ft., should be accepted as the full value of consideration for calculating capital gains. The amounts paid to the landlord and for vacating premises were considered part of the construction cost.
The Tribunal was justified in setting aside the Commissioner's order under Section 263. The market value is not to be considered for capital gains calculation; only the full value of consideration is relevant. The Assessing Officer's view was one of the possible views, thus Section 263 was not applicable.
The High Court held that the reassessment order was illegal as it violated the principles of natural justice. The petitioner was not given a copy of the statements forming the basis of the reassessment notice, nor was a hearing provided.
The High Court held that both the Commissioner's rejection order and the ITAT's affirmation were unsustainable as they lacked proper reasoning and failed to consider the assessee's objections and activities. The matter was remitted back to the Commissioner for fresh adjudication.
The Tribunal held that treating the ERAF amount as income was inconsistent with facts, as it was treated as an advance or liability and later converted to government equity. The High Court agreed that the amounts could not be treated as income.
The High Court held that interest income from surplus funds invested in banks is attributable to carrying on the business of banking and is eligible for deduction under Section 80P(1). The judgment of the Supreme Court in Totgarh case was distinguished.
The High Court held that the assessee was entitled to raise the plea of the matching principle, which had not been considered by the Tribunal. Therefore, the Tribunal's order was quashed.
The Karnataka High Court quashed the order of the Information Commission. It held that information pertaining to income tax returns is personal information and exempted from disclosure under the Right to Information Act.
The High Court dismissed the Revenue's appeal, following a previous judgment with identical questions of law. The substantial questions of law were answered in favor of the assessee and against the Revenue.
The High Court struck down the Karnataka Private Aided Educational Institutions Employees (Regulation of Pay, Pension and other Benefits) Act, 2014, as unconstitutional. The court directed the state to continue paying benefits as before the impugned enactment and to refund any amounts recovered.
The High Court held that information pertaining to income tax returns is considered 'personal information' and is exempted from disclosure under Section 8(1)(j) of the Right to Information Act. Following a Supreme Court judgment on similar grounds, the impugned order was quashed.
The High Court noted that the dispute was settled under the 'Vivad se Vishwas' scheme. Consequently, the appeal was disposed of as withdrawn.
The Tribunal held that the AO could not change the 'head' of income in rectification proceedings under Section 154, as the issue involved a debatable point of law. Therefore, the rectification was not permissible.
The High Court held that the complainant failed to discharge the initial burden of proving financial capacity to lend the amount, and the presumption under Section 139 of the NI Act was rebutted. The trial court's acquittal was upheld.
The High Court of Karnataka disposed of the appeals based on the agreement of the parties. The Court noted that the first substantial question of law, concerning the reopening of proceedings under Section 147 of the Income Tax Act, was covered by the Court's decision in ITA 504/2013 (N Govindaraju Vs Income Tax Officer) dated July 1, 2015. The second question, relating to the merits of the case, was covered by a Division Bench decision of the same Court in the case of the same assessee, Commissioner of Income Tax Vs CMR Jnanadhara Trust, dated January 20, 2015. Consequently, the appeals were disposed of in terms of these two prior judgments. No specific findings on the individual issues were recorded in this judgment, as it was based on precedent and agreement.
The High Court held that the Tribunal was not justified in upholding the reassessment when the original reasons for reopening did not survive and the assessment was made on different grounds. It also found that the fair market value and brokerage expenses were not correctly determined.
The High Court of Karnataka disposed of the writ petition by reserving liberty to the petitioner to raise the plea that the notice dated April 7, 2015, is beyond the period of two years as contemplated by clause (a) of sub-section (1) of Section 153B of the Income Tax Act, 1961, before the authority in response to the said notice. The court expressed that if such a plea is made, there is no reason to believe that the authority would not consider and pass orders in accordance with law. The court did not decide on the merits of the plea itself, nor did it address the prayer for refund and interest. The operative direction is to allow the petitioner to raise the issue before the assessing authority.
The Tribunal correctly held that the income from the sale of shares was capital gains, not business income. However, the disallowance of foreign travel expenditure and technical support charges was upheld due to lack of substantiation.
The High Court held that the authorities below should have provided the assessee with adequate opportunity to prove her stand regarding the nature of the transaction and the business exigency for cash payments. Since this opportunity was not given, the matter needs to be remanded.
The Tribunal correctly held that the income from the sale of shares was capital gains, not business income. However, the disallowance of foreign travel expenditure and technical support charges was upheld due to lack of substantiation.
The Court directed the petitioner to furnish the clarification sought by the respondents or make a fresh application with all necessary details. The third respondent will then decide on the application expeditiously.
The High Court held that the order rejecting the petitioner's objections was not a speaking order and lacked proper reasoning. Such orders are essential to prevent arbitrariness and ensure fairness in decision-making.
The High Court held that the Settlement Commission rightly dismissed the application as not maintainable because the goods in question were notified under Section 123 of the Customs Act, attracting the third proviso to Section 127B. The court found no error in the Settlement Commission's or the Single Judge's orders.
The High Court held that the original suit was for partition and possession of properties, and the petitioner was entitled to income from his share after deducting expenses. The court noted that a previous order had already addressed the lease period of the theater.
The High Court held that the reassessment proceedings were illegal and unsustainable due to a violation of the principles of natural justice. The court found that the petitioners were not provided with copies of the statements forming the basis of the reassessment notices, nor were they given an adequate opportunity to be heard.
The High Court set aside the ITAT's order, allowing the Revenue's appeal, based on its prior judgment in a similar case. However, the final order was made contingent on the outcome of the assessee's pending appeal before the Apex Court.
The Court directed the Tax Recovery Officer to consider the petitioner's representations for the release of attached properties on merits and in accordance with law, expeditiously.
The High Court set aside the ITAT's order, allowing the Revenue's appeal. However, the final order was made contingent on the outcome of the assessee's pending appeal before the Apex Court.
The High Court found merit in the appellant's submission that demolition would render their appeals infructuous. The tribunal was directed to expedite the appeal, and the demolition order was set aside pending the tribunal's decision.
The High Court held that the Joint Commissioner had the jurisdiction to revise the assessment order under Section 63A of the KVAT Act. The court found that sub-section (2)(b) of Section 63A allows revision of orders passed up to four years prior to the revision proceedings, irrespective of the insertion date of the section.